Kordsa Teknik Tekstil A.s. · BIST:KORDS

Kordsa Teknik Tekstil A.s — Q1 2025 Earnings Presentation

17 slides from Kordsa Teknik Tekstil A.s's earnings presentation, May 6, 2025

  1. Slide 1: 1Q'25 Financial Results

    Kordsa.com 1Q’25 Financial Results Earnings Release May 6 2025

  2. Slide 2: Disclaimer

    Disclaimer The information and opinions contained in this document have been compiled by KORDSA Teknik Tekstil Anonim Şirketi (the “Company”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or

  3. Slide 3: Agenda

    AGENDA 01. 02. 03. 1Q’25 Highlights Indonesia Update Market Dynamics 04. 04. Key Financials What’s Next 3

  4. Slide 4: 1Q'25 Highlights

    4 1Q’25 Highlights REVENUE OPERATING Adjusted EBITDA* TIRE REINFORCEMENT CASH FLOW * Remarkable working capital and cash flow management 217 14.5 MUSD * Declining net debt level MUSD 42 MUSD * Continued capacity surplus and price pressure from Asia All Hard- 6.5% Margin * Tariffs and trade wars rema

  5. Slide 5: Flood in West Java

    Flood in West Java Banjir - Bekasi Puncak - Bogor

  6. Slide 6: Plant Layout and Flood Impact Levels

    Plant Layout and Flood Impact Levels 3 1- Yarn Utility 6 2- NY Yarn 7 3- TCF Utility 4- Water Treatment 2 5- PET Yarn 1 6- TCF1 5 7- TCF2 4

  7. Slide 7: China continues to grow in the value chain and keep mature markets under pressure

    7 China continues to grow in the value chain and keep mature markets under pressure Global Automotive Market excl. China Global Tire Market excl. China (million units) (million units) 63 65 56 62 60 61 1,130 1,033 1,042 1,061 1,086 1,110 3,5 3,5 2,9 3,0 3,3 62 60 60 2,8 3,2% 57 56 58 2,2% 16,0 180 1

  8. Slide 8: Aerospace recovery continues, but supply chain and strikes weigh on deliveries

    8 Aerospace recovery continues, but supply chain and strikes weigh on deliveries Composite Prepreg Market (M$) Composite Textile Market (M$) 5,302 5,675 2,820 2,992 4,113 4,583 4,922 1,790 2,475 2,586 3,217 2,213 296 292 806 11% 286 804 12% 286 798 8% 7% 286 793 7% 7% 7% 511 6% 530 28% 2,7% 489 252

  9. Slide 9: Price competition from Far-East in tire reinforcement and late aerospace recovery

    9 Price competition from Far-East in tire reinforcement and the late recovery of aerospace in the composite affecting our profitability levels USD Financials (MUSD)  1Q24 1Q’25  2Q'24 3Q'24 4Q’24** 1Q’25 Sales 234 217 -7.2% 235 235 225 217 Gross Profit 40 30 -23.9% 32 32 16 30 Gross Margin (%) 17.

  10. Slide 10: Our aim is to build balanced portfolio between tire and composite reinforcement

    10 Our aim is to build balanced portfolio between tire and composite reinforcement Segment Reporting Results 1Q, 25 Revenue Split 1Q, 24 Revenue Split By Region By Product By Region By Product Other; Other; Asia; 3% Asia; 3% 17% Composite; 20% Composite; 22% 21% EMEA; EMEA; 38% SA; 10% 41% SA; 9% TC

  11. Slide 11: Hard Currency Revenue

    11 Hard Currency Revenue Other Depreciation FX exposure 2% 5% 4% 1% Distribution & 10% Packaging 5% 23% 16% 4% Costs Energy 1Q’25 Revenue 7% (1Q’25) Expenses Expenses by (1Q’25) 55% 72% Nature Raw Materials 77% Personel 19% Expenses US $ EUR US $ TL EUR IDR BRL Baht • Hard currency revenues • Abilit

  12. Slide 12: Sales Bridge – MUSD

    12 China continues to grow in the value chain Sales Bridge – MUSD 234 -2 11 217 -1 -25 Slowdown in EU automotive market * Indo Kordsa Flood Effect * Price pressures from Asian competitors 1Q'24 Composite Tire* Volume Tire* Price/Mix Other 1Q'25 * Tire Reinforcement Segment

  13. Slide 13: EBITDA Bridge (MUSD)

    13 Cost improvement projects helping to keep profitability level despite inflation-fx mismatch effects EBITDA Bridge (MUSD) 23,2 -10,4 1,8 2,6 -1,8 14,5 -2,9 -0,4 1,5 0,2 -1,6 2,3 1Q24 Adj. Tire Tire MFG FC Inflation/FX OPEX Inflation/FX FPDE Composite Indo Other 1Q25 Adj. EBITDA Volume Cont. Mismat

  14. Slide 14: Balance Sheet

    14 Balance Sheet TL Financials (MTL) USD Financials (MUSD)  YE’24 1Q’25   YE’24 1Q’25  Cash and Cash Equivalents 4,257 4,777 520 121 126 6 Account Receivables 5,690 5,874 184 161 156 -6 Inventories 7,474 7,376 -98 212 195 -17 Other Current Assets 1,205 1,737 532 34 46 12 PPE & Intangibles 16,741

  15. Slide 15: Focusing on improving working capital and net debt level

    15 Focusing on improving working capital and net debt level Trade Working Capital (M$) Net Debt / Adjusted EBITDA* -80 M$ -36 M$ 5,4 5,8 296 302 5,1 4,6 326 4,0 282 246 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 1Q'24 2Q'24 3Q'24 4Q'24** 1Q'25** Amount Avg. Int. Rates Net Debt (M$) M$ 31.12.2024 31.03.2025 % % -

  16. Slide 16: What's Next

    16 What’s Next FAST RECOVERY AFTER FLOOD in INDONESIA CASH MANAGEMENT & IMPROVING NET DEBT LEVEL COST IMPROVEMENT FOCUS CONCENTRATE VALUE-ADDED PRODUCTS in ALL SEGMENTS IMPROVEMENT in OPERATIONAL PROFITABILITY

  17. Slide 17: Thank You

    Thank You THE REINFORCER

Kordsa Teknik Tekstil A.Ş. — Q1 2025 Earnings Presentation on 6ix